Baillie Gifford & Co. Has $230.15 Million Position in Penumbra, Inc. $PEN

Baillie Gifford & Co. lessened its position in shares of Penumbra, Inc. (NYSE:PEN) by 1.5% in the third quarter, HoldingsChannel.com reports. The fund owned 908,546 shares of the company’s stock after selling 13,581 shares during the period. Baillie Gifford & Co.’s holdings in Penumbra were worth $230,153,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Penumbra by 35.8% in the first quarter. Royal Bank of Canada now owns 19,332 shares of the company’s stock worth $5,169,000 after acquiring an additional 5,092 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Penumbra by 53.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,999 shares of the company’s stock valued at $1,255,000 after purchasing an additional 1,748 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Penumbra by 408.3% in the second quarter. Farther Finance Advisors LLC now owns 2,262 shares of the company’s stock valued at $580,000 after buying an additional 1,817 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Penumbra during the second quarter worth $408,000. Finally, GAMMA Investing LLC lifted its stake in shares of Penumbra by 7.3% in the 2nd quarter. GAMMA Investing LLC now owns 761 shares of the company’s stock valued at $195,000 after acquiring an additional 52 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Penumbra Stock Performance

Shares of PEN opened at $359.54 on Friday. The company has a current ratio of 6.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $311.41 and its two-hundred day simple moving average is $273.22. Penumbra, Inc. has a 12 month low of $221.26 and a 12 month high of $362.41. The stock has a market capitalization of $14.08 billion, a P/E ratio of 86.01, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71.

Penumbra (NYSE:PEN) last announced its earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.90 by $0.07. Penumbra had a return on equity of 11.35% and a net margin of 12.30%.The company had revenue of $354.69 million for the quarter, compared to analyst estimates of $340.77 million. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, analysts predict that Penumbra, Inc. will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

PEN has been the subject of a number of recent research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $374.00 target price (up previously from $345.00) on shares of Penumbra in a report on Friday, January 16th. Citigroup lowered shares of Penumbra from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $350.00 to $374.00 in a report on Thursday, January 15th. Royal Bank Of Canada cut shares of Penumbra from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $355.00 to $374.00 in a research note on Tuesday. Bank of America raised their target price on Penumbra from $320.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Needham & Company LLC lowered Penumbra from a “buy” rating to a “hold” rating in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $358.00.

Insiders Place Their Bets

In other news, Director Arani Bose sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $308.82, for a total transaction of $4,632,300.00. Following the completion of the sale, the director owned 258,462 shares of the company’s stock, valued at $79,818,234.84. This trade represents a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Wilder sold 186 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $310.72, for a total transaction of $57,793.92. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,144 shares of company stock valued at $10,260,127 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.